Directorate change

ALBION TECHNOLOGY & GENERAL VCT PLC

DIRECTORATE CHANGE

LEI Code 213800TKJUY376H3KN16

This announcement includes information required under UKLR 6.4.6R of the UK Listing Rules.

The Board of Albion Technology & General VCT PLC (the “Company”) is pleased to announce that Fiona Wollocombe, Swarupa Pathakji and Simon Thorpe, (the “Directors”) have been appointed to the Board as non-executive directors with effect from 19 December 2024. The Directors were on the board of Albion KAY VCT PLC (which earlier today was placed into members’ voluntary liquidation following its merger with the Company).

As well as joining the Board, each of the Directors will serve on the Company's Audit & Risk, Remuneration, Nomination and the Management Engagement Committees.

Fiona’s previous career was in equity capital markets at NatWest Markets/Deutsche Bank. She has been a non-executive director for a number of companies in the VCT sector, currently Chairman at Amati AIM VCT Plc and formerly Chairman of Albion KAY VCT PLC Board (before its merger with the Company) and as well as the former Chairman for Artemis VCT Plc (dissolved following a members’ voluntary liquidation). There are no further disclosures required to be made in accordance with UKLR 6.4.8R of the UK Listing Rules in relation to Fiona's appointment.

Swarupa has extensive experience across the financial sector, with an in depth understanding of investment in growth companies as well as experience in exits and valuations. Her background includes working in the Corporate Finance team at Deloitte before spending time in mergers and acquisitions at Merrill Lynch. She moved to Duke Street, a leading mid-market Private Equity fund, in 2007 and has been involved as a non-executive director of a number of companies across multiple sectors. She is currently a non-executive director of OFS (DS) Holdings Ltd where she is chair of the Audit Committee and is a non-executive director of Motorpoint Group PLC. Swarupa was previously a non-executive director of Albion KAY VCT PLC Board (before its merger with the Company) and a non-executive director of SCS Group P.L.C. There are no further disclosures required to be made in accordance with UKLR 6.4.8R of the UK Listing Rules in relation to Swarupa appointment.

Simon is a qualified Chartered Accountant and former chairman and director of Cambridge Angels with extensive experience of analysing and investing in early-stage public and private companies in the technology and technology enabled healthcare sectors. His previous roles include him working as the Chief Operating Officer for European Equity Research and UBS Global Equity Research. Simon has become the Chairman of the Audit and Risk Committee and also the senior Independent Director of the Company, effective as of today’s date. He was previously a non-executive director of Albion KAY VCT PLC Board (before its merger with the Company). There are no further disclosures required to be made in accordance with UKLR 6.4.8R of the UK Listing Rules in relation to Simon's appointment.

The Board welcomes the new Directors and looks forward to working closely with them over the coming years.

Separately, the Board further announces that David Benda, who joined the Board on 26 June 2023, has become the Chairman of the Remuneration Committee with effect from 19 December 2024. 

Margaret Payn, Peter Moorhouse and Patrick Reeve have retired from the Board, effective from today’s date. The Chairman would like to thank them for their hard work, diligence and commitment during their tenures.

19 December 2024

Clive Richardson
Chairman

For further information please contact:
Vikash Hansrani
Operations Partner
Albion Capital Group LLP
Telephone: [phone]